Page 48 - 2022 CPC Corporation,Taiwan

Financial Statements Compared with 2020, the Natural Gas Business Division’s profits before tax for 2021 decreased, primarily because the selling price of natural gas was not adjusted to reflect the cost; the Exploration & Production Business Division’s profits before tax went from negative to positive because the impairment losses on assets were reversed; the Refining and Marketing Business Division’s profit margin increased because of crude oil price and smooth on site operation. The capital expenditure incurred in 2021 was NT$30,018 million, a 11.02% decrease from 2020. The breakdown of the expenditure was as follows: Production & manufacturing 41.53% Marketing & transportation 18.31% Others 40.16% The exchange rate between the NT dollar and the US dollar was 27.660:1 on December 31, 2021. STATEMENTS OF INCOME FOR THE YEARS ENDED DECEMBER 31, 2021 AND 2020 (In Thousands of New Taiwan Dollars) Operating Revenues Sales Other operating revenues Total operating revenues Operating Costs and Expenses Cost of goods sold Exploration expenses Oil and gas transmission and storage expenses Other operating costs Total operating costs Gross Profit(Loss) Operating Expenses Non-Operating Income and Gains Non-Operating Expenses and Losses INCOME (LOSS) BEFORE INCOME TAX Income Tax Expense (Benefit) NET INCOME (LOSS) FOR THE YEAR 2021 $ 885,554,926 18,217,796 903,772,722 891,280,130 2,119,987 12,843,525 4,839,965 911,083,607 (7,310,885) 22,067,454 5,097,908 22,851,284 (47,131,715) (7,847,293) $(39,284,422) 2020 $ 713,747,247 7,953,696 721,700,943 682,590,726 1,712,403 12,156,335 15,807,765 712,267,229 9,433,714 20,153,836 9,724,748 6,707,832 (7,703,206) (361,653) $(7,341,553)